Scholastic (NASDAQ:SCHL) Sees Strong Trading Volume – Here’s What Happened

Shares of Scholastic Co. (NASDAQ:SCHL) saw unusually-strong trading volume on Monday . Approximately 270,034 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 237,701 shares.The stock last traded at $20.05 and had previously closed at $21.22.

Scholastic Trading Down 2.9 %

The company has a current ratio of 1.24, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $532.20 million, a price-to-earnings ratio of -104.97 and a beta of 1.10. The business’s 50 day moving average price is $20.07 and its two-hundred day moving average price is $23.79.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.73. The company had revenue of $335.40 million during the quarter, compared to analysts’ expectations of $347.68 million. Scholastic had a positive return on equity of 1.91% and a negative net margin of 0.27%. On average, equities analysts predict that Scholastic Co. will post 0.84 earnings per share for the current fiscal year.

Scholastic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, April 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Wednesday, April 30th. Scholastic’s dividend payout ratio is currently 133.33%.

Institutional Investors Weigh In On Scholastic

A number of institutional investors have recently added to or reduced their stakes in the business. J. Goldman & Co LP acquired a new position in shares of Scholastic during the fourth quarter worth $18,892,000. Pacer Advisors Inc. lifted its holdings in Scholastic by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 838,366 shares of the company’s stock worth $17,882,000 after buying an additional 16,379 shares during the period. American Century Companies Inc. increased its stake in shares of Scholastic by 10.4% in the fourth quarter. American Century Companies Inc. now owns 621,852 shares of the company’s stock valued at $13,264,000 after buying an additional 58,483 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Scholastic by 13.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 568,206 shares of the company’s stock worth $12,120,000 after acquiring an additional 66,027 shares during the period. Finally, Azarias Capital Management L.P. boosted its holdings in Scholastic by 71.8% in the fourth quarter. Azarias Capital Management L.P. now owns 467,783 shares of the company’s stock valued at $9,978,000 after acquiring an additional 195,507 shares during the last quarter. 82.57% of the stock is owned by institutional investors.

About Scholastic

Scholastic Corporation publishes and distributes children’s books worldwide. It operates in three segments: Children’s Book Publishing and Distribution, Education Solutions, and International. The Children’s Book Publishing and Distribution segment engages in publication and distribution of children’s print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.